Question

Explain the relation between Full Factorial Design and the Profits of an organization.

Answer 1

Full Factorial Design and the Profits of an organization.

• In statistics, fractional factorial designs are experimental designs consisting of a carefully chosen subset (fraction) of the experimental runs of a full factorial design
• The subset is chosen so as to exploit the sparsity-of-effects principle to expose information about the most important features of the problem studied, while using a fraction of the effort of a full factorial design in terms of experimental runs and resources.
• In other words, it makes use of the fact that many experiments in full factorial design are often redundant, giving little or no new information about the system.
• A fractional factorial experiment is generated from a full factorial experiment by choosing an alias structure. The alias structure determines which effects are confounded with each other.
• For example, the five factor 25 − 2 can be generated by using a full three factor factorial experiment involving three factors (say A, B, and C) and then choosing to confound the two remaining factors D and E with interactions generated by D = A*B and E = A*C.
• These two expressions are called the generators of the design. So for example, when the experiment is run and the experimenter estimates the effects for factor D, what is really being estimated is a combination of the main effect of D and the two-factor interaction involving A and B.